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Author:Wall, Howard J. 

Journal Article
Now and forever NAFTA

U.S. exports have been booming since the passage of the North American Free Trade Agreement. But is the story the same for every state?
The Regional Economist , Issue Apr , Pages 12-13

Journal Article
Is the population boom a boon?

National Economic Trends , Issue Jan

Journal Article
Recessions, expansions and black employment

The Regional Economist , Issue Oct , Pages 19

Working Paper
Ethnic networks and U.S. exports

This paper provides new estimates of the effects of ethnic networks on U.S. exports. In line with recent research, our dataset is a panel of exports from U.S. states to 29 foreign countries. Our analysis departs from the literature in two ways, both of which show that previous estimates of the ethnic-network elasticity of trade are sensitive to the restrictions imposed on the estimated models. Our first departure is to control for unobserved heterogeneity with properly specified fixed effects, which we can do because our dataset contains a time dimension absent from previous studies. Our ...
Working Papers , Paper 2005-069

Journal Article
A new picture of metro-area employment in the Eighth District

The Regional Economist , Issue Apr , Pages 18-19

Journal Article
A journal ranking for the ambitious economist

The authors devise an "ambition-adjusted" journal ranking based on citations from a short list of top general-interest journals in economics. Underlying this ranking is the notion that an ambitious economist wishes to be acknowledged not only in the highest reaches of the profession, but also outside his or her subfield. In addition to the conceptual advantages that they find in their ambition adjustment, they see two main practical advantages: greater transparency and a consistent treatment of subfields. They compare their 2008 ranking based on citations from 2001 to 2007 with a ranking ...
Review , Volume 91 , Issue May , Pages 127-140

Working Paper
Personal-bankruptcy cycles

This paper estimates the dynamics of the personal-bankruptcy rate over the business cycle by exploiting large cross-state variation in recessions and bankruptcies. We find that bankruptcy rates are significantly higher than normal during a recession and rise as a recession persists. After a recession ends, there is a hangover whereby bankruptcy rates begin to fall but remain above normal for several more quarters. Recovery periods see a strong bounce-back effect with bankruptcy rates significantly below normal for several quarters. Despite the significant increases in bankruptcies that occur ...
Working Papers , Paper 2010-010

Working Paper
Biofuel subsidies: an open-economy analysis

We present a general equilibrium analysis of biofuel subsidies in an open-economy context. In the small-country case, when a Pigouvian tax on conventional fuels such as crude is in place, the optimal biofuel subsidy is zero. When the tax on crude is not available as a policy option, however, a second-best biofuel subsidy (or tax) is optimal. In the large-country case, the optimal tax on crude departs from its standard Pigouvian level and a biofuel subsidy is optimal. A biofuel subsidy spurs global demand for food and confers a terms-of-trade benefit to the food-exporting nation. This might ...
Working Papers , Paper 2009-053

Working Paper
Endogenous export subsidies and welfare under domestic cost heterogeneity

We present a model of Cournot rivalry where domestic and foreign firms compete in a third-country market, and where the domestic export subsidy is determined by lobbying. Greater domestic cost heterogeneity (a mean-preserving spread of the marginal costs of the domestic firms) means that the subsidy level, aggregate domestic output, and domestic market share will all be higher. However, the effect of heterogeneity on domestic welfare is ambiguous. From a near-symmetric initial situation, greater domestic cost-heterogeneity reduces domestic welfare if the number of domestic firms exceeds some ...
Working Papers , Paper 1999-017

Journal Article
How important is the U.S.-Canada border?

International Economic Trends , Issue Aug

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International trade 8 items

Business cycles 7 items

Federal Reserve District, 8th 7 items

Employment (Economic theory) 6 items

Monetary policy 6 items

Recessions 6 items

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